Sweden, brother STOCKHOLM, the Swedish electric bicycle market is growing, with the market rising from 17.5% in 2019/2020 to 19.5% in the previous quarter. However, the country's market is now in short supply.
At the beginning of the outbreak, the sales volume increased, so the inventory decreased. The closure of factories and difficult transportation led to the shortage of product supply, which eventually led to the reduction of market stock. According to the Swedish Industry Association cykelbranschen, a total of 460000 (electric) bicycles were sold between September last year and August this year. The market scale was reduced by 16% compared with the previous period.
Market share of electric bicycle
The continuous growth of the demand for electric bicycles is an obvious trend. One of every five bicycles sold in Sweden is an electric bicycle, with a penetration rate close to that of the Danish market, which started several years earlier.
According to cykelbranschen, the demand for bicycles is still high, but guests have to wait a long time to receive (electric) bicycles. The Swedish bicycle market, like many countries, has been disrupted. There are only a few manufacturers in the country, so it is quite dependent on imported products. According to cykelbranschen, imports fell 29% from September last year to August this year. People familiar with the matter expect the market to face the same problem next spring.
Cycleurope increases Swedish production
Cyclurope, Sweden's largest (electric) bicycle manufacturer, announced a new investment plan. The company announced this year that the output increased by 30-40%. The factory will also increase the number of employees.
"There are many benefits to producing in Sweden. We also have factories in Italy and France. This is a difficult time for manufacturers who do not have production centers in Europe," cycliurope CEO Tony Grimaldi said in an interview this spring In order to deliver to retailers as soon as possible, the number of European suppliers of cyclurope is gradually increasing. "The inventory is still very low. The goods we produce are directly delivered to our customers."
Increase IBD sales
Sportson, Sweden's largest bicycle dealer, operates 28 stores nationwide, and more and more customers are interested in electric bicycles. Lars Haglund, chief executive of sportson, said: "all the electric bicycles we got this year have been sold out. If we have more inventory, we should also be able to sell them all." He also confirmed that the customer base has expanded. With the domestic trend, consumers tend to buy (electric) bicycles in IBD.
